Parking of funds in Short Term Deposits of Scheduled Commercial Banks by Mutual Funds – Pending Deployment.

SEBI vide Circular no. SEBI/HO/IMD/ DF4/CIR/P/2019/093 dated August 16th, 2019 it is clarified that Trustees/Asset  Management Companies  (AMCs)shall  ensure  that  no funds of a scheme is parked in Short Term deposit (STD) of a bank which has invested in that scheme. Trustees/AMCsshall  also  ensure  that  the  bank  in  which a scheme  has STD do  not  invest in  the  said  scheme  until  the  scheme  has STDwith such Bank.

https://www.sebi.gov.in/legal/circulars/aug-2019/parking-of-funds-in-short-term-deposits-of-scheduled-commercial-banks-by-mutual-funds-pending-deployment_43923.html

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